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Does marginal cost always intersect average cost at minimum average cost?
NTERSECTS
What is happening to average variable costs when they equal marginal costs?
When average variable costs equal to the average marginal cost, the average variable cost will be at the minimum point. i.e. lowest cost
What Relation between marginal cost and average cost?
relation ship between average cost and marginal cost
Why does the marginal cost curve cut the average total cost curve at its minimum?
Ur probably in Farzads class... hah xD
6 If the average total cost curve is falling what is necessarily true of the marginal cost curve If the average total cost curve is rising what is necessarily true of the marginal cost curve?
When average total cost curve is falling it is necessarily above the marginal cost curve. If the average total cost curve is rising, it is necessarily below the marginal cost curve.
Does marginal cost always intersect average cost at minimum average cost?
NTERSECTS
What is happening to average variable costs when they equal marginal costs?
When average variable costs equal to the average marginal cost, the average variable cost will be at the minimum point. i.e. lowest cost
How do you find marginal average cost?
There is marginal cost and there is average cost but a marginal average cost makes no sense.
In the short run if marginal product is at its maximum what happens to average cost?
it is at its minimum
What Relation between marginal cost and average cost?
relation ship between average cost and marginal cost
Why does the marginal cost curve cut the average total cost curve at its minimum?
Ur probably in Farzads class... hah xD
Does marginal cost curve always intersect the average cost curve at the average cost curve's lowest point?
When the marginal cost is below the average total costs or the average variable costs,then the AC would be declining.When marginal cost is above the average cost then the average cost would be increasing.Therefore the marginal cost should intersect with the average cost at the lowest point in order to pull the average cost upwards.
When marginal cost is less than the average total cost the average total cost is falling why?
as a marginal cost is the cost of the next product produced, if this is less than average cost, when you continue to produce more products the lower marginal cost will have an affect on the average and cause it to fall.
6 If the average total cost curve is falling what is necessarily true of the marginal cost curve If the average total cost curve is rising what is necessarily true of the marginal cost curve?
When average total cost curve is falling it is necessarily above the marginal cost curve. If the average total cost curve is rising, it is necessarily below the marginal cost curve.
Equation for marginal cost and average cost?
Marginal cost - the derivative of the cost function with respect to quantity. Average cost - the cost function divided by quantity (q).
What happens when the slope of the total revenue curve is equal to the slope of the total cost curve?
a. monopoly profit is maximized. b. marginal revenue equals marginal cost. c. the marginal cost curve intersects the total average cost curve. d. the total cost curve is at its minimum. e. Both A and B
What happens to marginal cost after the point where it equals average variable cost?
Marginal Cost will keep increasing (have upward slope) because of the principle of diminishing marginal returns. The MC curve above the its intersection with AVC is the Supply Curve *because below minimum AVC, the firms stops production)
